InstantWatch is a leading, independent European platform for securities market surveillance. The system provides detection of insider trading and market manipulation supporting MiFID2/MiFIR and MAR

About the system

InstantWatch Market is a powerful platform for automatic surveillance and compliance. It is already leading the market in northern Europe. InstantWatch Market analyses a flow of financial transactions such as trades, orders and news from various sources in real time, and then issues alerts according to a configurable rule system.

MiFID2/MiFIR adaptations

The InstantWatch platform will provide different functionality to ensure compliance with the provisions in MiFID2 and MiFIR.

Best-ex for Firms and Venues

Monitoring of the execution quality and various on-request reports along with yearly/quarterly reports for top 5 execution venues and execution quality.

Real-time monitoring of algorithmic trading

Monitoring for disorderly trading and market abuse with real-time alerts. Functionality for Firms that act as a market maker to monitor that they provide liquidity in accordance with what has been agreed upon with the specific venue.

Trade Reconstruction

Collection and storage of the data in MiFID2/MiFIR formats, handling of reguest-for-quotes and possibility to integrate with chats and audio recording systems.

Systematic Internaliser Determination

Functionality to determine if your firm is considered an Systematic Internaliser by comparing the trading with ESMA´s official trading statistics.

Downloads

Features

Why market surveillance systems?

Regulators and FSAs are increasingly focused on regulating the financial markets. Focus has been on minimizing risks and to prevent insider trading and market abuse. Exchanges, MTFs, banks and brokerage firms have to comply with laws and regulations and to minimize all risks involved. ESMA guidelines came into effect in May 2012 and they stipulate that all these actors need to have efficient surveillance systems in place.

How are alerts handled?

The system issues an alert when a pre-defined scenario in an alert trigger is fulfilled. A single, or several, alerts are handled as a case that needs to be investigated, documented and sometimes reported. InstantWatch Market provides powerful tools to assist the user in this process.

The instrument monitor immediately gives a clear picture of what has happened. It shows the actual instrument development during a chosen time. The instrument can be compared to an index or another instrument.

The order player can play, or replay, each order event in the markets. It makes it possible to analyse order entering situations as well as “best execution”.

Powerful, yet user friendly

Even though the system is extremely powerful and carries out very complex pattern analyses, it is still very user friendly, easy to learn and easy to use. The complex functionality is hidden “behind the scenes”.

The system’s automatic monitoring module performs advanced pattern analysis of each transaction. InstantWatch Market contains all alert types needed by exchanges and brokerage firms, according to the specified scenarios in Mifid, MAD and ESMA guidelines – as well as other laws/regulations. The user can configure alert triggers and set the thresholds in real time.

Can it handle the large number of events created by HFT, high frequency trading?

InstantWatch is one of the most powerful transaction handling systems in the world. Every day more than 20 billion pattern analyses are carried out on 1 billion transactions within InstantWatch for our customers. The system handles 100 000 transactions per second in real time on a standard server, providing more than 2 million alert trigger checks per second. It is nonetheless still scalable.

Can it monitor simultaneous trading of an instrument on several exchanges?

Yes, InstantWatch Market is developed to handle fragmentized trading of an instrument on several markets.

Why InstantWatch Market?

InstantWatch Market has been on the market since 2005. It is well proven and widely used by leading exchanges, MTFs, banks and brokerage firms. The functionality is constantly being improved and adapted to new regulations and new patterns.

Every day more than 60 billion pattern analyses are carried out on 3 billion transactions within InstantWatch for our customers.

How do I get started?

InstantWatch Market can be provided as an internet service hosted by Trapets. This is the quickest way to get started. Contact Trapets for more information and pricing!